Shares of 10x Genomics, Inc. (NASDAQ:TXG – Get Free Report) have received an average recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $30.60.
A number of equities research analysts recently weighed in on TXG shares. Canaccord Genuity Group lowered their target price on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Barclays lowered their target price on shares of 10x Genomics from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday. Guggenheim reaffirmed a “neutral” rating on shares of 10x Genomics in a research report on Tuesday, June 25th. The Goldman Sachs Group reduced their price objective on shares of 10x Genomics from $26.00 to $16.00 and set a “sell” rating for the company in a research report on Tuesday, July 9th. Finally, Stifel Nicolaus reduced their price objective on shares of 10x Genomics from $53.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th.
Insider Activity
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. ARK Investment Management LLC lifted its stake in 10x Genomics by 48.2% in the 2nd quarter. ARK Investment Management LLC now owns 9,313,763 shares of the company’s stock worth $181,153,000 after purchasing an additional 3,029,951 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in 10x Genomics by 69.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock worth $119,483,000 after purchasing an additional 2,521,289 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its stake in 10x Genomics by 58.6% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock worth $135,780,000 after purchasing an additional 1,338,248 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in 10x Genomics in the 2nd quarter worth approximately $11,612,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in 10x Genomics by 17.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock worth $137,257,000 after purchasing an additional 553,053 shares in the last quarter. 84.68% of the stock is owned by institutional investors.
10x Genomics Price Performance
TXG opened at $15.74 on Thursday. 10x Genomics has a fifty-two week low of $14.02 and a fifty-two week high of $57.90. The firm has a market capitalization of $1.90 billion, a PE ratio of -7.79 and a beta of 1.85. The company’s 50-day moving average is $21.28 and its 200 day moving average is $22.93.
10x Genomics (NASDAQ:TXG – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.15. 10x Genomics had a negative net margin of 37.90% and a negative return on equity of 28.23%. The company had revenue of $153.10 million for the quarter, compared to analyst estimates of $150.90 million. As a group, analysts expect that 10x Genomics will post -1.35 EPS for the current year.
About 10x Genomics
10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.
Featured Stories
- Five stocks we like better than 10x Genomics
- Trading Stocks: RSI and Why it’s Useful
- Taiwan Semiconductor Stock: Buy Now or Wait for Earnings?
- Stock Splits, Do They Really Impact Investors?
- Abbott’s Growth and Dividends Make It a Smart Portfolio Pick
- The 3 Best Blue-Chip Stocks to Buy Now
- Citigroup Faces Growing Troubles: Could the Industry Be at Risk?
Receive News & Ratings for 10x Genomics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 10x Genomics and related companies with MarketBeat.com's FREE daily email newsletter.